 The 1.30 resistance has cracked. The outlook may be changed since the market first tested the 1.30 level. However the bearish scenario still exists ahead of the short-term bullish outlook. An important resistance exists at 1.3250. The market may be respect this if this rally as a wave 4. If that is the case, we are… |
 The EUR/USD has established a top at 1.30 this week after breaking below the double top pattern. Thursday, we saw the EUR/USD surge but this was still a pullback. The targets established in an earlier update are… |
 All eyes were on the 1.30 resistance level, as the EUR/USD rally has become overextended within an overall bearish mode. Yesterday, I was stalking the consolidation, basically with resistance at 1.30 and support at the 1.2875 area. A bullish attempt to break 1.30 turned out to be clear-out action… |
 Following the market after testing 1.30 last Friday, we see the market attempting to break this level again today. However, the 1H chart shows that after a strong rally in the European session, the EUR/USD stalled below 1.30, and… |
 Yesterday’s EUR/USD and GBP/USD update noted that the EUR/USD was targeting 1.30/1.31 area. The 1.30 area has already been reached. The pair now enters an important resistance zone… |
 The EUR/USD is surging towards 1.30/1.31 area as noted in yesterday’s post. The European session saw the EUR/USD surge more than 100 pips. This came after some consolidation in the Asian session. In the daily chart we see today’s price action break above a declining trendline suggesting a move towards… |
 The daily chart shows a continuation pattern right at the channel resistance. This type of market action means that the market actually is NOT respecting the channel. Fibonacci expansion levels and retracement levels have.. |
 The EUR/USD saw it’s first sign of reversal from its current rally on Friday, as mentioned on the EUR/USD update. To start this week, we saw pullback capped at 1.2650, and a strong bearish attempt. With strength in the previous slide, this current… |
 The EUR/USD was in a diagonal triangle according to the 7.8.2010 update. The market did not reach 1.2740, but was held at 1.2720. Then there was a sharp slide in the European session until the start of the… |
 Following the EUR/USD as it rallies towards 1.2750 as posted in the previous update. The market is indeed rallyign towards 1.2740/50, however the momentum is slowing, as we see a lengthy bearish divergence… |